Bill > HB1759

This bill modifies provisions related to personal property assessments in Missouri, primarily focusing on how different types of property are valued and assessed for tax purposes. The legislation introduces changes to the assessment rates for personal property, gradually reducing the assessment percentage from 33.33% to 30% for personal property by calendar year 2027. It also provides detailed guidelines for how assessors should determine property values, including specific requirements for computer-assisted valuation methods, which now require assessors to provide clear evidence supporting their valuations. The bill outlines different assessment rates for various types of property, such as livestock (12%), farm machinery (12%), historic motor vehicles (5%), and solar equipment (5%), and establishes specific procedures for property assessments, including requirements for physical inspections when significant valuation increases are proposed. Additionally, the bill includes provisions for how manufactured homes are assessed, allowing for flexibility in their classification as personal or real property depending on their location and ownership status. The legislation aims to provide more transparent and consistent methods for property assessment across Missouri counties, with specific protections for property owners and guidelines for assessors to follow.

Budget and Finance, Government Affairs

https://house.mo.gov/Bill.aspx?bill=HB1759&year=2026&code=R